DA Davidson began coverage on shares of Redfin (NASDAQ:RDFN) in a report issued on Wednesday, April 4th, MarketBeat.com reports. The brokerage set a “buy” rating and a $28.00 price target on the stock. DA Davidson’s price target suggests a potential upside of 23.13% from the company’s current price. DA Davidson also issued estimates for Redfin’s Q1 2018 earnings at ($0.45) EPS, Q2 2018 earnings at $0.07 EPS, Q3 2018 earnings at $0.17 EPS, Q4 2018 earnings at $0.00 EPS, FY2018 earnings at ($0.20) EPS, Q1 2019 earnings at ($0.42) EPS, Q2 2019 earnings at $0.12 EPS, Q3 2019 earnings at $0.28 EPS, Q4 2019 earnings at $0.08 EPS, FY2019 earnings at $0.07 EPS and FY2020 earnings at $0.22 EPS.
Several other equities research analysts have also recently issued reports on the company. BidaskClub cut Redfin from a “hold” rating to a “sell” rating in a research note on Thursday, January 25th. Piper Jaffray upped their target price on Redfin from $24.00 to $29.00 and gave the stock a “neutral” rating in a research note on Monday, January 29th. Cowen assumed coverage on Redfin in a research note on Friday, December 15th. They set an “outperform” rating and a $30.00 target price for the company. Royal Bank of Canada upgraded Redfin from a “sector perform” rating to an “outperform” rating and set a $28.00 target price for the company in a research note on Friday, February 2nd. They noted that the move was a valuation call. Finally, Zacks Investment Research downgraded shares of Redfin from a “hold” rating to a “sell” rating in a report on Wednesday, February 28th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $25.92.
Shares of NASDAQ:RDFN traded down $0.07 during trading on Wednesday, reaching $22.74. 203,018 shares of the stock were exchanged, compared to its average volume of 1,398,770. Redfin has a 12 month low of $19.18 and a 12 month high of $33.49. The stock has a market cap of $1,854.73 and a PE ratio of -115.55.
Redfin (NASDAQ:RDFN) last issued its quarterly earnings results on Thursday, February 22nd. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.03. The company had revenue of $95.80 million during the quarter, compared to the consensus estimate of $91.59 million. The company’s quarterly revenue was up 43.4% compared to the same quarter last year. analysts forecast that Redfin will post -0.2 earnings per share for the current year.
In other Redfin news, CFO Christopher John Nielsen sold 25,000 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $20.51, for a total transaction of $512,750.00. Following the completion of the sale, the chief financial officer now directly owns 25,000 shares in the company, valued at approximately $512,750. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Adam Wiener sold 10,000 shares of the stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $20.82, for a total value of $208,200.00. Following the sale, the insider now owns 299,649 shares of the company’s stock, valued at $6,238,692.18. The disclosure for this sale can be found here. Insiders sold 65,000 shares of company stock valued at $1,388,550 over the last 90 days.
Hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new position in Redfin in the 3rd quarter valued at about $139,000. MetLife Investment Advisors LLC purchased a new stake in shares of Redfin during the 4th quarter worth approximately $155,000. Wells Fargo & Company MN purchased a new stake in shares of Redfin during the 3rd quarter worth approximately $158,000. American International Group Inc. purchased a new stake in shares of Redfin during the 3rd quarter worth approximately $181,000. Finally, Needham Investment Management LLC purchased a new stake in shares of Redfin during the 4th quarter worth approximately $224,000. 52.44% of the stock is currently owned by institutional investors.
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Redfin Company Profile
Redfin Corporation is engaged in providing residential real estate brokerage services. The customer can search for homes by neighborhood, city or MLS number, or can refine results using detailed parameters, such as price and number of beds or baths. The Company serves home buyers and sellers. The Company offers online tools to consumers, including Redfin Estimate, which is an automated home-valuation tool.
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